Illinois Municipal Retirement Fund Grows Holdings in Affiliated Managers Group, Inc. $AMG

Illinois Municipal Retirement Fund boosted its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 46.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 21,367 shares of the asset manager’s stock after acquiring an additional 6,795 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Affiliated Managers Group were worth $5,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMG. Goldman Sachs Group Inc. lifted its stake in shares of Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after acquiring an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Affiliated Managers Group by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock valued at $23,815,000 after purchasing an additional 6,262 shares during the last quarter. Jane Street Group LLC acquired a new stake in Affiliated Managers Group during the 1st quarter valued at approximately $1,947,000. American Century Companies Inc. grew its stake in Affiliated Managers Group by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock valued at $1,683,000 after purchasing an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Affiliated Managers Group by 89.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after purchasing an additional 133 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMG shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Barrington Research restated an “outperform” rating and issued a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $362.29.

Insiders Place Their Bets

In other Affiliated Managers Group news, Director G. Staley Cates bought 1,500 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $305.83 per share, with a total value of $458,745.00. Following the completion of the acquisition, the director directly owned 6,405 shares of the company’s stock, valued at approximately $1,958,841.15. The trade was a 30.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the transaction, the chief executive officer owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 21,902 shares of company stock worth $7,257,719. Corporate insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $369.96 on Friday. The business’s fifty day moving average price is $334.13 and its 200 day moving average price is $310.75. Affiliated Managers Group, Inc. has a 12-month low of $200.00 and a 12-month high of $382.75. The stock has a market capitalization of $9.77 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same quarter in the previous year, the company posted $5.37 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Affiliated Managers Group, Inc. will post 35.48 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.16%.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.